Innova Group flies at +52% in 2022

The company presented on 10 October its results for the 2022 financial year which are the best ever, to the great satisfaction of all the management. The year was characterized by the substantial strategic investment plan and celebrations for its 50 years of activity.

Sheets of corrugated cardboard, die-cut boxes, cartons, RSC cases, floor and counter displays, pall boxes, honeycomb cardboard and interiors, customizations with offset or flexo print and products with carboard of any thickness.

Unique of its kind in Italy, Innnova Group continues, therefore, to offer a wide and complete range of packaging solutions which drive its development year after year.

In 2022 it established a new record involving all the key financial figures. Turnover grew by 52.2%, reaching 161 million euros (105.9 million in 2021) and Ebitda rose to 37.3 million euros (+80.4%). A net profit of 15.3 million euros was achieved, up 79% on 2021 which, combined with the over 80 million of shareholders’ equity (also the best ever result), is an extraordinary result.

These figures, achieved in a year characterised by a complex global scenario, confirm the validity of the business model established by the founder Giovanni Pedrotti – who passed away in 2004 – and pursued with consistency and coherence by his sons Diego, Luca and Stefano Pedrotti (Innova directors) together with their mother Giulia.

Pushing turnover was also the increase in list prices necessary to face the energy and raw material increases:

«20% of the increase is attributable to this operation - declared Luca Pedrotti - but the increase in demand also had a big impact, with the consequent need to double production shifts».

The introduction into the portfolio of new customers created new business and development opportunities. The trend of the first nine months of 2023 have followed the same positive trend as the previous year, with revenues slightly down due to the drop in the costs of raw materials:

«Turnover fell proportionately by 13%, but this fact does not cause concern, as consumption, volumes and customer portfolio have remained in line with 2022 » underlined Diego Pedrotti.

Investments, the lifeblood for growth

As in previous years, the investment plan aimed at the expansion of factories, improvement in existing technologies and sustainability continued in 2022.

In the period under examination, as much as 10 million euros were allocated, giving new impetus to the group’s growth: the acquisition of a new building of 10,000 square metres in Borgo San Giacomo (BS), in which the site of Torbole Casaglia was transferred, and the acquisition of 160,000 sq.m. of new land between Verona, Brescia and Bergamo intended for the extension of the current production sites. The 360kw photovoltaic park in the Fontanella (BG) factory was completed, allowing for an energy saving of between 30 and 40% while the modernization of machinery, technologies and internal logistics in the various production centres continued.

«Substantial investments are characterising also 2023» Stefano Pedrotti affirms: «As of today, expenditure amounts to 4.5 million euros for new offices, equipment, machinery, logistics and internal handling in the Caino factory and for the 400kw photovoltaic plant in Borgo San Giacomo».

Innova Group is proceeding with caution in its forecasts for 2024, waiting for quotations of new machinery, which increased in price by more than 30% in 2022, to return to more accessible levels, with the same applying to interest rates.

With regards to sustainability, finally, the milestone of “zero emissions”, achieved in 2022 by the Fontanella factory is worth noting, now classified as among one of the few virtuous sites to have achieved this ambitious result. In 2023, the company intends to repeat similar measures also in the Borgo San Giacomo factory, where work aimed at improving its energy efficiency is currently in progress.